Growth strategies

The California company will pay $1 billion for Opus, a once highflying bank that struggled with credit issues in recent years.

The Kansas City-area institution has sponsored the NFL’s Chiefs since 2016, but became its official banking partner in 2019. The timing couldn’t have been better.

A new app will allow small-business clients to quickly apply for credit while expanded offerings for homeowners associations will help CIT build up its base of low-cost deposits.

The expansion comes after a year in which net income at the Nashville-based credit union dropped by more than half amid a rise in delinquencies and charge offs.

A letter from the Independent Community Bankers of America calls on lawmakers to curtail credit unions' bank-buying spree or at least take measures to ensure parity between the two sides.

The benefits include improved financial inclusion, the chairman of the NCUA argues.

A deal bringing $16 million-asset RiverTrace CU into Call Federal Credit Union will take effect on Feb. 3.

A small number of institutions are beginning to add financial assistance for vocational training into their scholarship offerings, but that only accounts for a fraction of the industry's total giving for secondary education.

The deal will create a bank with $34 billion in assets and operations stretching from Virginia to Florida.

The Michigan-based CU celebrated its latest milestone during its 69th year of business.

Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.

There are no provisions in a new NCUA plan that outright bar credit unions from leveraging subordinated debt to acquire a bank. The long-awaited rule on bank purchases, also released Thursday, merely clarifies existing regulations rather than adding new components.

The company will pay $211 million for a bank with 22 branches and $1.2 billion in assets.

Terry Turner at Pinnacle Financial says big banks in the city, including Truist Financial and Wells Fargo, are "vulnerable" to new competitors.

While most banks are shrinking their branch networks, the Cincinnati bank is approaching the day where its branch expansion in the Southeast will more than offset closings in its legacy markets, its CEO says.

The Delray Beach-based institution will change its name later this year to better reflect the communities it serves and its growth beyond serving just IBM staff.

For the second time in six months, Birmingham Bloomfield CU is absorbing another nearby credit union that will operate as "a part of" BBCU.

The proposed merger will create a $10 billion-asset bank based in Nashville, Tenn.

The company will pay $29 million for Virginia Bank Bankshares.

If credit union lenders and underwriters aren't working collaboratively, they could be hindering growth opportunities.